Solana's price action is forming a descending wedge pattern with progressively higher lows, a classic bullish setup that suggests the token may have found its bottom. This technical structure often precedes significant upside moves in crypto markets.
Compared to Bitcoin's dominance, SOL is showing interesting recovery signals. The higher lows indicate buyer support is strengthening at each dip, which is typically a positive sign before a breakout phase. Traders are eyeing multiple resistance levels above current prices as potential targets.
If this wedge holds and breaks to the upside, Solana could be positioned for a meaningful rally. The pattern's reliability depends on volume confirmation and sustained buying pressure at support levels.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
12 Likes
Reward
12
9
Repost
Share
Comment
0/400
LayerZeroJunkie
· 19h ago
Hehe, the descending wedge pattern is back again, feels like I say this every time...
View OriginalReply0
RooftopVIP
· 01-04 08:08
Talking about wedge patterns again, to be honest, I'm tired of these chart patterns, but the bottom signals are indeed exciting...
View OriginalReply0
LiquidityWitch
· 01-02 19:57
ngl the wedge is giving alchemical transmutation vibes but we all know volume is the real sacrificial altar here... if sol breaks through without conviction it's just another liquidation ritual dressed up as technical poetry
Reply0
TheShibaWhisperer
· 01-02 19:55
The wedge bottom is back. Is SOL really about to rise this time?
View OriginalReply0
MoonlightGamer
· 01-02 19:55
The wedge pattern is back again, and I'm tired of hearing this set of scripts...
View OriginalReply0
GateUser-3824aa38
· 01-02 19:53
The wedge pattern needs to break upward; just having high points is useless.
View OriginalReply0
LightningWallet
· 01-02 19:35
Another classic technical pattern? I just want to know when it will truly break out.
View OriginalReply0
SchrodingerGas
· 01-02 19:33
Lower wedge breakout? On-chain data speaks for itself, don't just look at the candlesticks to tell the story
View OriginalReply0
GigaBrainAnon
· 01-02 19:31
I'm tired of hearing the same talk about the wedge bottom; only a real increase counts.
Solana's price action is forming a descending wedge pattern with progressively higher lows, a classic bullish setup that suggests the token may have found its bottom. This technical structure often precedes significant upside moves in crypto markets.
Compared to Bitcoin's dominance, SOL is showing interesting recovery signals. The higher lows indicate buyer support is strengthening at each dip, which is typically a positive sign before a breakout phase. Traders are eyeing multiple resistance levels above current prices as potential targets.
If this wedge holds and breaks to the upside, Solana could be positioned for a meaningful rally. The pattern's reliability depends on volume confirmation and sustained buying pressure at support levels.